Pakistan has called for progress on an investment protection agreement with Canada as part of efforts to attract Canadian investment and expand bilateral economic cooperation. Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb raised the matter during a meeting with Canada’s Secretary of State for International Development, Randeep Sarai, on the sidelines of the 2026 World Bank Group and International Monetary Fund Annual Meetings in Bangkok, Thailand. The discussions covered Pakistan’s economic stabilisation, opportunities for investment across several sectors and ways to strengthen commercial ties between the two countries. Aurangzeb emphasised the importance of creating conditions that could encourage private-sector participation and support long-term investment, with the proposed agreement forming part of the broader discussion on investor confidence and economic engagement.
The finance minister briefed Sarai on Pakistan’s economic stabilisation efforts and explored areas where stronger cooperation could generate commercial opportunities. An investment protection agreement can provide a framework for addressing investor concerns and establishing clearer expectations for investments made across national borders. For Pakistan, progress on such an arrangement could help strengthen engagement with Canadian businesses considering opportunities in the country. The meeting also provided an opportunity to discuss cooperation beyond traditional trade, including sectors where investment, technical expertise and private enterprise could contribute to economic activity. However, the discussions focused on encouraging progress towards the agreement, and no finalisation or signing of the proposed arrangement was announced in the report.
Agriculture, agrotechnology, livestock and food security featured prominently in the discussions between the two officials. These sectors offer potential areas for cooperation through investment, improved production methods, modern agricultural technologies and stronger supply chains. Pakistan could benefit from greater access to expertise and investment that supports agricultural productivity, livestock development and food-related businesses. Cooperation in agrotechnology could also help businesses explore technology-based approaches to farming, resource management and agricultural processing. Both sides emphasised the role of private-sector participation in advancing these opportunities, suggesting that businesses could play an important role in translating bilateral discussions into commercial projects. Further progress would depend on identifying viable opportunities and developing partnerships that address the needs of investors and local industries.
The Barrick mining project was another key subject discussed during the meeting. The officials considered matters related to its security review, financing arrangements and potential contribution to Pakistan’s exports and employment. Large-scale mining projects can require substantial investment, long-term financing and arrangements to manage operational and security risks. Their wider economic contribution can include export earnings, job creation and demand for supporting services, depending on project implementation and operating conditions. The discussion of the Barrick project therefore formed part of the broader examination of investment opportunities and Pakistan’s efforts to develop sectors capable of supporting economic activity. The report did not provide additional details on the status of the security review or any new financing commitments arising from the meeting.
Aurangzeb also highlighted opportunities in information technology services, artificial intelligence skills and virtual assets. These areas reflect Pakistan’s interest in expanding technology-related economic activity and developing services that can reach international markets. Information technology services can provide opportunities for businesses to secure overseas clients, generate export revenue and create employment for skilled professionals. Artificial intelligence skills development could support workforce preparation as companies increasingly explore the use of advanced digital technologies. Virtual assets were also included in the discussion, although no specific initiatives, regulatory decisions or investment commitments were announced. The inclusion of these subjects indicates that the two sides considered cooperation across both established economic sectors and newer areas of technology-driven business activity.
Engagement with the Pakistani diaspora in Canada, particularly in relation to remittances, was another issue raised by the finance minister. Remittances remain an important source of foreign exchange for Pakistan, supporting household incomes and contributing to external financial inflows. Strengthening engagement with overseas Pakistanis can help maintain economic connections between communities abroad and businesses and families at home. Discussions around diaspora engagement may also create opportunities to explore investment, entrepreneurship and commercial partnerships, although the report did not identify any specific new remittance initiative agreed upon during the meeting. The subject formed part of the broader effort to strengthen economic links between Pakistan and Canada.
The two officials also exchanged views on Pakistan’s mediation efforts and the impact of regional conflict on energy supplies, fertiliser availability and global food security. Disruptions affecting energy and fertiliser markets can increase production and transportation costs, placing pressure on businesses, farmers and consumers. Changes in global supply conditions can also affect food prices and the economic outlook for countries dependent on imported commodities. The discussion connected bilateral economic cooperation with wider international developments that may influence trade, investment and supply chains. Aurangzeb also thanked Canada for its assistance following floods in Pakistan, acknowledging the country’s support during a period of humanitarian need.
Tourism was identified as another potential area for cooperation, with Aurangzeb inviting Sarai to visit Pakistan. The invitation provided an additional avenue for strengthening engagement between the two countries beyond investment and trade discussions. Tourism can support economic activity through hospitality, transport and related services, while closer institutional and business contacts can help identify further areas of mutual interest. The meeting concluded with a broad discussion of economic, technological and development-related opportunities, reflecting Pakistan’s efforts to deepen its relationship with Canada. Progress on the proposed investment protection agreement, alongside cooperation in mining, agriculture, information technology and other sectors, could help shape future bilateral economic engagement. Any concrete outcomes will depend on subsequent discussions, policy arrangements and the development of investment proposals acceptable to both sides.
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